Syracuse (WSYR-TV) - Powered by things like stronger car sales and higher gas prices, early 2012 got off to a much stronger start for Onondaga County in terms of sales tax dollars than the year before and things never slowed down.
Over $318-million dollars in sales tax revenue came in to the Onondaga County last year, according to the final numbers just released.
That's a jump of nearly $16-million over 2011 and an increase over what the county budgeted for 2012.
Onondaga County Comptroller Bob Antonacci told NewsChannel 9, “Good government people would say that if we rely on sales tax too much, which is an up and down type of revenue, it could effect our long term viability, but I think its nothing but a good sign for Onondaga County. The county government itself is in very good fiscal condition and I just think this is a sign of the resiliency of the CNY economy."
The current numbers don't single out specific businesses, but Antonacci says from his view Destiny USA played a factor in these strong sales tax numbers.
“What I would suggest to some of the policy makers is you take the extra, so to speak, over that baseline and use that for one shots, like retiring debt or a capital project, “Antonacci said. “Certainly you don't want to run your government on that expectation every year because that's how you get into trouble.”
Antonacci says the county legislature will have a strong fund balance come budget time, powered by this sales tax increase, making for some interesting decisions on how they plan to use it. He says it's a problem that's good to have.
This year will be the first that towns and villages will be completely cut out of the sales tax sharing formula. The city, which remains part of that formula, gained $4-million over 2011 to $74.5-million in 2012.